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Explain the business assets Withdrawal
Withdrawal (Drawing) is removal of business assets for personal use by owner. This transaction decreases the asset taken and value of the business.
Every transaction increases or decreases (or both) fundamental elements in accounting equation.
Effect of recording a business transaction should always leave the two sides of the accounting equation in balance.
Accounts payable subsidiary ledger Accounts are designed to show balance owed to every creditor. Liability accounts generally have credit balances. Accounts are not assigned nu
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how do we credit debit cash received from owner
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